Parsons Capital Management Inc. RI Has $12.81 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Parsons Capital Management Inc. RI grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,912.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,954 shares of the information services provider’s stock after buying an additional 127,297 shares during the quarter. Alphabet accounts for about 1.2% of Parsons Capital Management Inc. RI’s holdings, making the stock its 13th biggest position. Parsons Capital Management Inc. RI’s holdings in Alphabet were worth $12,813,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Artemis Wealth Advisors LLC grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares during the last quarter. Horizons Wealth Management bought a new position in shares of Alphabet during the 2nd quarter worth approximately $33,000. Schubert & Co boosted its stake in shares of Alphabet by 1,200.0% in the 3rd quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after buying an additional 336 shares during the last quarter. Carolina Wealth Advisors LLC boosted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares during the last quarter. Finally, Cardinal Capital Management Inc. purchased a new position in shares of Alphabet in the 2nd quarter worth approximately $41,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 2.1 %

GOOGL opened at $93.05 on Friday. The stock has a market cap of $1.20 trillion, a PE ratio of 18.48, a P/E/G ratio of 1.62 and a beta of 1.09. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $151.55. The business’s fifty day simple moving average is $93.00 and its 200 day simple moving average is $101.63.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. KeyCorp cut their target price on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 25th. StockNews.com began coverage on Alphabet in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Cowen dropped their price objective on Alphabet to $135.00 in a research note on Thursday, October 27th. Morgan Stanley upped their price objective on Alphabet from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on Alphabet to $135.00 in a research note on Thursday, October 27th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the company’s stock in a transaction dated Monday, October 24th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the acquisition, the insider now owns 11,522,248 shares in the company, valued at approximately $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Company insiders own 11.44% of the company’s stock.

Alphabet Company Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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